Online Stores Eligible for Low-Interest Loans
The Beijing News, 11/05/08
The Beijing Municipal Labor Service Management Center has revealed that the Beijing Municipal Bureau of Finance, the Beijing Bureau of Labor and Social Security and the operations management department of the People's Bank of China have jointly issued documents widening the scope of approval on a government-sponsored low-interest loan program catering to self-employed persons seeking small, secured loans. These regulations expand the number of loan-types eligible to receive support from the original 19 to more than 100, covering 8 major industries including retail and hospitality. The documents also clearly show that "online businesses" constitute an acceptable form of retail operation, making this the first time such operations have been eligible for the subsidized support.
Keywords: Beijing Municipal Labor Service Management Center Beijing Municipal Bureau of Finance Beijing Bureau of Labor and Social Security People's Bank of China funding government initiative e-commerce Internet e-commerce government support
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